NOV (NYSE:NOV) Reaches New 1-Year Low – Should You Sell?

NOV Inc. (NYSE:NOV) hit a new 52-week low on Tuesday . The stock traded as low as $13.81 and last traded at $13.93, with a volume of 69854 shares traded. The stock had previously closed at $14.21.

Analyst Ratings Changes

A number of research firms have weighed in on NOV. Raymond James upped their price target on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Seaport Res Ptn downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Barclays lifted their price target on shares of NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 18th. Piper Sandler upped their price objective on shares of NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, Atb Cap Markets lowered NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.60.

NOV Price Performance

The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 8.90, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. The company’s fifty day moving average price is $15.00 and its 200 day moving average price is $15.70. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46.

NOV (NYSE:NOV) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. Equities research analysts expect that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Friday, March 14th. NOV’s dividend payout ratio (DPR) is presently 18.63%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Mariner LLC boosted its stake in NOV by 2.9% in the 4th quarter. Mariner LLC now owns 24,201 shares of the oil and gas exploration company’s stock worth $353,000 after purchasing an additional 672 shares during the period. Signaturefd LLC grew its holdings in shares of NOV by 41.3% during the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $38,000 after buying an additional 756 shares in the last quarter. Huntington National Bank grew its holdings in shares of NOV by 88.7% during the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company’s stock valued at $32,000 after buying an additional 1,034 shares in the last quarter. ProShare Advisors LLC raised its position in NOV by 6.1% during the fourth quarter. ProShare Advisors LLC now owns 18,204 shares of the oil and gas exploration company’s stock valued at $266,000 after buying an additional 1,042 shares during the period. Finally, KBC Group NV lifted its stake in NOV by 11.8% in the 3rd quarter. KBC Group NV now owns 11,060 shares of the oil and gas exploration company’s stock worth $177,000 after acquiring an additional 1,163 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

About NOV

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits.